Doom & Gloom. The real estate market is in the toilet!!! The world is over!
If you were to visit some of the national media sites or watch the 24 hour cable news channels you would believe the world really was over. Real estate, according to the large media outlets is collapsing around us and we have no hope (to see the articles on MSNBC and convince yourself life as we know it is over, simply click the link at the very bottom).
Obviously the real estate market is not what is was in 2005, but it's also not requiring you to pay 18.75% interest on your mortgage like the requirements during the early 1980's. Can you imagine that? At today's rates a $200,000 home, with a fixed 30 year mortgage, has a principle and interest payment of around $1235.00 per month compared to $3136.00 per month in the early 1980's.
I'd like to say the media has a short memory, but I'm sure they remember very well. Media outlets could tell you real estate is not exploding but it is alive and well, but then who would read the articles or watch their station?
That said, I'm confident that the real estate market is alive and well...simply not exploding! Home prices out paced wages and people couldn't afford to buy a home. Now home prices have leveled, even drawn back a little, and in time, as employers try to keep employees from leaving their job for higher wages, salaries will climb some. After a few years of healthy, but realistic real estate trends, a fire will get lit and it will explode again.
To view our website and view quality Kingsland or St. Mary's, Georgia homes for sale visit http://www.royal-skies.com or feel free to visit the doom and gloom at:
http://www.msnbc.msn.com/id/8874568/?__source=GGL%7CCAMP010MSNBC_Core%7CADGP020Business_Real+Estate%7CKWRD016real+estate+news&sky=GGL%7CCAMP010MSNBC_Core%7CADGP020Business_Real+Estate%7CKWRD016real+estate+news